The Globe and Mail reports in its Saturday edition that the courtship of Newmont shareholders has begun. The Globe's Niall McGee writes that this week, the world's two biggest gold companies launched duelling campaigns in an attempt to convince Newmont shareholders of the merits of two very different takeover deals. On Monday, Barrick Gold made an unusual $17.8-billion (U.S.) all-stock takeover bid for its biggest rival. Barrick is aiming to thwart Newmont's own $10-billion planned takeover of Goldcorp. Barrick and Newmont officials are holding talks with major Newmont shareholders, making the case for their respective takeover offers. The companies' top executives traded barbs this week, with Newmont chief executive officer Gary Goldberg calling Barrick's hostile offer "a desperate act." Barrick's challenge is to explain why Newmont shareholders should accept an offer with no premium, and recent trading suggests investors do not see Barrick's offer as the winning bid. Still, some Newmont shareholders remain open to the concept of a Barrick tie-up with Newmont. Jim Milligan at New York-based Olivetree Financial, predicts that Barrick will end up tabling a superior offer on the order of 10 per cent for Newmont.